Key Takeaways:
- Only 2% of token listing applications submitted to Binance receive responses, with 98% going unanswered.
- Binance’s co-founder Yi He refuted claims that Binance demands 15% of a project’s token supply for listings, clarifying that Binance does not require payment in tokens or a fixed listing fee.
- Binance’s listing policy, established in 2018, ensures that all listing fees are considered donations, with proceeds directed to charity.
Binance co-founder Yi He has addressed allegations by Moonrock Capital’s CEO, who claimed that Binance requires 15% of a project’s token supply for listing on the exchange.
Yi He refuted this, clarifying that Binance neither requires payment in token supply nor sets a fixed listing fee.
#FUD If a project does not pass the screening process, it cannot be listed on Binance regardless of the amount of money or tokens involved.
— Yi He (@heyibinance) November 3, 2024
#DYOR Binance has listed projects in the token distribution column, please analyze the percentage to know if there is a so-called 20%.… https://t.co/LYt3GU7PMT
Instead, since 2018, Binance’s policy has mandated transparent fees, where projects propose a “donation” amount as a listing fee, with 100% directed to charity.
Binance doesn’t impose minimum fees, leaving the donation amount up to each project.
Yi He also mentioned that only 2% of listing applications receive responses, indicating a highly selective process.
Binance charged us $0.
— Andre Cronje (@AndreCronjeTech) November 3, 2024
Coinbase has asked us for; $300m, $50m, $30m, and more recently $60m.
Lots of respect. But this is simply not true.
The allegations have sparked broader discussions within the industry about listing fees on centralized exchanges, with similar concerns raised against Coinbase by Sonic’s co-founder Andre Cronje.
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